BSEAvi Products India LtdMediumNeutral
Announced Thu, 23 Apr · 16:44 IST

The has decided to change the registered office from Thane city to Mumbai city.

Cfo ResignedMultiple Ind Directors ResignedPromoter Family Board EntryManagement Changes View source PDF
Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Avi Products India Ltd has undergone a complete change of control and management on April 23, 2026. The entire old board resigned including 4 directors (Daksha Nilesh Vora, Abhishek Nilesh Vora, Manas Ranjan Palo, Saroj Kumar Choudhury). Seven new directors were appointed, including Mr. Parthh K Mehta as Additional Executive Director and Chairman, Mr. Ameya Tandulkar as Additional Executive Director, Mr. Bankim Mehta as Non-Executive Non-Independent Director, and three Independent Directors (Ms. Malvika Jagani, Mr. Dayashankar Patel, Mr. Aditya Soni). The new promoters are from PPMS Real Estates LLP with Parthh K Mehta and Ameya Tandulkar as business partners, and Bankim Mehta being Parthh's uncle. Key managerial personnel also changed: CFO Ms. Hemali Pankaj Patel resigned and Mr. Nikunj Bharatbhai Gandhi was appointed; Company Secretary Ms. Shreyana Koyande resigned and Ms. Renu Choudhary was appointed. Both auditors were changed. The company also plans to shift its registered office from Thane to Mumbai. All changes are effective April 23, 2026.

Likely market impact

This is a significant change of control event with complete board overhaul and new promoter group taking over. The old management (Vora family) has exited entirely, and new real estate professionals have taken charge. Existing shareholders should monitor for any changes in business strategy, as the new promoters are from the real estate sector with backgrounds in SRA projects and property development.